Series 28: OTC Equity Securities

Taken from our Series 28 Online Guide

OTC Equity Securities

FINRA may also review OTC transactions if their price exceeds certain thresholds. Should it declare an OTC transaction null and void, it must do so by 3:00 p.m. ET on the next trading day. The threshold price for an OTC equity transaction to be found clearly erroneous is as follows.

Since you're reading about Series 28: OTC Equity Securities, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 28
Please Enable Javascript
to view this content!

Reference Price

Numerical Guidelines (Subject Transaction’s Percent Difference from the Reference Price)

$0.9999 and under

20%

$1.0000 to $4.9999

Low end of range minimum 20%–High end of range minimum 10%

$5.00 to $74.9999

10%

$75 to $199.9999

Low end of range minimum 10%–High end of range minimum 5%

$200 to $499.9999

5%